Caterpillar Inc. – breach of price line thats been previously tested numerous times before

Caterpillar Inc. has broken through the support line of a Support. Because we have seen it retrace from this position in the past, one should wait for confirmation of the breakout before trading. It has touched this line numerous times in the last 19 days and suggests a target line to be around 119.01 within the next 2 days.